Netflix, Inc. (NASDAQ:NFLX) Holdings Trimmed by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,513 shares of the Internet television network's stock after selling 231 shares during the quarter. Netflix comprises about 2.4% of Summit Place Financial Advisors LLC's portfolio, making the stock its 8th largest position. Summit Place Financial Advisors LLC's holdings in Netflix were worth $4,209,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC raised its position in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its stake in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director directly owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Oppenheimer lifted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Citigroup restated a "neutral" rating and set a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, Pivotal Research boosted their price objective on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,182.58.

Netflix Stock Up 0.8%

Shares of NFLX stock traded up $10.38 during trading hours on Thursday, reaching $1,295.24. 2,006,224 shares of the stock were exchanged, compared to its average volume of 3,761,661. The business's fifty day moving average is $1,200.03 and its two-hundred day moving average is $1,031.42. The firm has a market capitalization of $551.21 billion, a P/E ratio of 61.21, a P/E/G ratio of 2.48 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the prior year, the firm posted $8.28 EPS. As a group, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.